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TechnoratiHistory is unfolding before our eyes. Listening to our nation’s leadership in Congress support the agenda of these Canaanite bankers is unbelievable. Yes, our economy has entered troubled water but we will prevail. The Word of God says that you will reap what you sow and this holds true with both positive and negative consequences.
If you listen to these bankers discuss the root of the problem they say it’s because homeowners deceived the poor bankers into lending them money when the homeowners knew they could not pay them back. Give me a break! This financial breakdown is because of a flawed fractional banking system. Just look at the multiples these banks and financial institutions have been allowed. Now they want to deleverage but no one wants their “junk assets.” So they need to find a buyer, that buyer would be me and you the American taxpayer. These bankers are telling us we are really getting a deal too. They say we will probably even make lots of money if we buy their junk. Folks, no one wants this junk that’s why they are looking to us. We are the only hope for the “lender of last resort.” The FBI launched a fraud investigation against AIG, Lehman, Freddie Mac, Fanny Mae and their former executives. Fraud? Investigation? Now? Why is FBI Director Robert Mueller and his assistant out of the country this week and unable to field any calls from our office here at The Voice magazine?
Anyway, why not let the system, “free market capitalism” deal with this? Lehman failed last week and life continued on. The system absorbed them. Merrill Lynch sold out for.20 cents on the dollar, the system absorbed them and life continued on. Let these other banks fail too. Systematically I agree but bankers should be like the rest of us, fearful of reaping the consequences of bad business decisions and bankruptcy without golden parachutes.
I would like to suggest that we take advantage of this “Wall Street banking crises” as an opportunity to reform the entire system. Do we have any leaders in Congress capable of proposing such a thing? Few I suspect. It seems many of our leaders look to the “experts”, bankers and Wall Street suits for solutions. Anyone interested in a gold standard? Ouch, sorry for the mention of that. After all we have to make this bailout decision now before panic sets in and there is a run on the bank. What’s next? Will the purchase of gold and foreign exchange be outlawed too? Probably. If Bernanke was afraid of a run on the banks will he also be afraid of a run on the dollar?
As believers, we know it is unscriptural to go to the Philistines to sharpen our swords. We run to the God of the bible, not Pharaoh. Our leaders need our prayers!
Isn’t it interesting that Warren Buffet, the sage of financial sages, purchased $5 billion in Goldman Sachs preferred stock on Tuesday? Does he know something that we don’t? Why did Secretary Paulson call him last Sunday? What did they discuss? Why would the Secretary of the Treasury call him? Don’t forget Paulson’s background as a Goldman Sachs insider.
Repeatedly Secretary Paulson and Federal Reserve Chairman Bernanke have been touted as “the experts” and in our public education system we have been taught to "trust the experts." Friends, these two are not the experts of Main Street but the chaotic banking system that has lost billions and billions of dollars through bad business decisions. Don’t let Canaanite rhetoric and fear move you. Call your leaders and ask them to stand their ground against this bailout (heist). The market is much better at solving problems than government.
Senators - http://www.senate.gov/general/contact_information/senators_cfm.cfm
Congressman - https://forms.house.gov/wyr/welcome.shtml
God bless America!
Christ is still on the throne,
Your partner,
Jonas Clark
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